Silver Dollar Outlook in 2013

According to the Standard Bank, silver dollar investors have been steadily buying in silver in their investment, nearly 68 metric tons (MT) in first week of March.

US silver eagle sales in February was lower than January by 4,129,500 ounce but, demand was healthy according to the bank. They even foresee that silver demand will outstrip gold, based on their research, as investor’s interest in silver are increasing in Europe and North America.

Analyst from CPM and BNP Paribas also confirmed that silver market is continuing in surplus, despite after last few years of surplus. And many miners have forecast an increase in production this year and plan to keep the silver market well supplied.

On company info, if Santacruz Silver Mining makes the $3 M payment by October 2014, then they will have 100% ownership of the 48,057 hectare El Gachi property in Mexico.

Fortuna Silver Mines has consistence production growth for the past six years, reported a total production of 4M ounces in 2012, a 59% increase from last year. And forecast an increase of its product by another 10% this year.

One of the world top silver producers, Pan American Silver made a record production of 25.1 M ounces last year. It’s CEO forecast year 2013 production to be between 25 to 26 M ounces of silver.

One of the oldest Miners, Hecla Mining announced that their silver reserves have reached its history record level. And 2013 production will increase by 25% from 2012, at 8 to 9 M ounces.

Another promising miner, First Majestic Silver with continue nine years of growth in production, announced in their press release that they expect its production will continue to growth this year and reach 11.7 M ounces from 8.26 M ounces last year.

Follow are 4 silver miner recommended at a recent World Resource Investment Conference Vancouver, Canada, 4 Silver Juniors mining company worth watching.

#1, Reservoir Minerals. Currently mining in 6 locations of Serbia and Africa of Cameroon and Gabon. According to their report, their mine in Serbia contains high-grade silver that associated with lead and zinc. The report also mentioned that it discover a 291 meters, grade of 7.17% copper equivalent to one of it project.

#2, Dolly Varden Silver, a Canadian company mining in Northweat British Columbia. It reports that, the company holds an estimate 5.7 million ounces of silver and target to expand the resource to 40 to 50 million ounces of silver. It good to know that one of it investor, Hecla Mining, recently invested another $2.7 Million to maintain it percentage share holding in the company. This show the potential of  the company

#3, Bear Creek Mining. Holding two big projects in Peru with a total of over 500 million ounces of silver. Studies show that these projects contain proven and probable mineral reserves of 333 million ounces of silver, 3.1 billion pounds of lead and 1.7 billion pounds of zinc.

#4, Riverside Resources. Recommended in 5 Gold Juniors to Watch in Gold Investing News. Hold a number of gold, silver and copper projects.

Nevertheless not all miners are optimistic in year 2013 silver production.

Leave a Reply